Without rent control i either raise their rent far above market rents so they give me notice (my preferred method) or i simply do not renew their lease.

This apartment required a cosmetic renovation that is going to run me around $27,000 to redo.

These programs offer options for less money down and in some cases DPA - Down payment assistance.As a banker for over 18+ years I am very skeptical when I hear a new name in the business only because its become tougher to lend with all of the new laws and credit/insurance requirements and regulations.  

I wouldn’t worry about the higher dp because any investment property is going to require 20% down , like a DSCR  Let me know how that turns out!

My requirements?

@Nick AmYou also may want to consider other matters besides taxes, such as state law requirements for management companies and serving as a property manager, especially with a tiered structure.

If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee.

That being said, there won't be any down payment required since you have equity (you're guessing ~55,000 but I wasn't sure if you were meaning the property is ballpark worth ~$175,000, or more than that). 

On the other hand, self-education through books, podcasts, and free resources is cost-effective but requires discipline and a clear plan.

Yes, my banks require a 1.2 DSCR debt service coverage ratio, meaning they want to see rent 20% higher than the mortgage payment.